1888 $20 PR65 Deep Cameo PCGS. JD-1, R.6....

Description

1888 Double Eagle, PR65 Deep Cameo
Only 20 to 30 Examples Extant

1888 $20 PR65 Deep Cameo PCGS. JD-1, R.6. Ex: Simpson. The Philadelphia Mint resumed normal circulation-strike production of double eagles in 1888. Output had declined precipitously beginning in 1881. A total of just 2,322 twenty dollar gold pieces were struck for circulation in all the years been 1883 and 1887 combined. None were manufactured at all in 1883, 1884, and 1887, leaving collectors with proofs only to represent those dates.

Despite the increase in circulation-strike production in 1888, proof output remained relatively steady. The mintage is reported alternately as 105 proofs in the Guide Book and 102 proofs in John Dannreuther's United States Proof Coins, Volume IV: Gold, Part II. The latter suggests 20 to 25 examples survive in all grades, while PCGS CoinFacts posits 25 to 30 proofs exist. Dannreuther explains the 25% survival rate as follows: "The numismatic world of the late nineteenth century was very selective with only the very wealthy collectors able to withstand the ups and downs of the economy and preserve their collections." In other words, the economic down times often saw these high-denomination gold pieces put into circulation or otherwise lost.

Among those known to the numismatic community, most survive in near-Gem condition with varying degrees of contrast, though some exhibit the signs of handling expected given the usage patterns noted above. Naturally, Deep Cameo proofs tend to be the most challenging and most sought-after. This is an exceptionally well-preserved Gem with dramatic field-device contrast. Frosty light yellow-gold devices are surrounded by glassy mirrors that show minimal evidence of contact. Population: 2 in 65 Deep Cameo, 1 finer (1/22).(Registry values: P3)

Coin Index Numbers: (NGC ID# 26E9, PCGS# 99104, Greysheet# 10073)

Weight: 33.44 grams

Metal: 90% Gold, 10% Copper

Note for clients in the European Union: This lot is considered by the European Union to be “investment gold”. We believe that it meets the criteria established in Article 344(1), point (2) of Council Directive 2006/112/EC and thus should be exempt from import VAT regardless of the selling price. Any questions or concerns about VAT should be addressed to your accountant or local tax authority.

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